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This entry was published on 2014-09-22
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SECTION 1602
Disclosure requirement
Business Corporation (BSC) CHAPTER 4, ARTICLE 16
§ 1602. Disclosure requirement.

(a) No offeror shall make a takeover bid unless as soon as practicable
on the date of commencement of the takeover bid he files with the
attorney general at his New York city office and delivers to the target
company at its principal executive offices a registration statement
containing the information required by section sixteen hundred three of
this article.

(b) An offeror shall make full and fair disclosure to offerees of the
material information set forth in the registration statement filed
pursuant to subdivision (a) of this section.

(c) No solicitation or recommendation to the offerees of a target
company to accept or reject a takeover bid shall be made by or on behalf
of an offeror or a target company unless at the time copies of such
solicitation or recommendation are first published, sent or given to
such offerees, the person making such solicitation or recommendation has
filed copies of the solicitation or recommendation with the attorney
general at his New York city office.